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A VA loan or mortgage refinance is a home loan product backed by the Department of Veterans Affairs (VA). It lets you swap your current loan for a new one, but with different terms.
While FHA loans require a down payment of at least 3.5 percent of the purchase price, VA loans will let you borrow the money without contributing any money from your savings – making these much ...
A VA cash-out refinance is a type of mortgage guaranteed by the VA that essentially swaps your current mortgage with a new, larger loan that allows borrowers to take the extra amount out as ready ...
What are the terms and rates for VA home loans?VA loans can have term lengths of 10 to 30 years, with a fixed or adjustable rate. VA loan interest rates vary from lender to lender and by borrower ...
According to the VA, there are more than 1,500 lenders that offer VA loans. To find a VA loan lender in your area, Anderson recommended asking your real estate agent or talking to other veterans ...
Home inspections are not required for VA loans, but you must get a home appraisal. The U.S. Department of Veterans Affairs (VA) effectively has a no-limits policy on home loans for eligible borrowers.
Loan use: A VA home renovation loan allows you to finance the purchase of the home and repairs (or refinance and do repairs). A regular VA loan can only be used to purchase a home or refinance.
“The VA IRRRL is an option that enables homeowners to refinance a previously existing fixed-rate VA home loan to a new one, typically with a lower interest rate,” says Robert Greenbaum, chief ...